(Samuel Corum/Bloomberg)
U.S. stocks were mixed on Tuesday, after the Food and Drug Administration recommended pausing the use of
‘s Covid-19 vaccine as it reviews rare blood-clotting cases.
Shortly after the open, the
was down 160 points, or 0.5%. The
added 0.1%, while the
was up 0.8%.
Johnson & Johnson (ticker: JNJ) shares were down 2.1%.
Separately, the consumer-price index rose 0.6% in March from February, above expectations.
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This key U.S. inflation indicator “has emerged as a key focal point for markets given the debates surrounding inflation and its implications for monetary policy moving forward,” said Jim Reid, a strategist at Deutsche Bank.
“Indeed, part of the reason that markets have brought forward their expectations for Fed rate hikes is based around rising inflation expectations that they think the Fed might have to rein in,” Reid said. “There’s a widespread expectation that inflation is set to rise in the coming months, but also a consensus for the most part that this will be a transitory phenomenon, and Fed officials have reiterated that they’ll look through the rise in inflation for this reason.”
In Asia, Tokyo’s
rose 0.7%, while Hong Kong’s
lifted 0.15%. The
dipped 0.5%. The
in London was down 0.1%, while the
in Paris and Frankfurt’s
ticked up 0.2%.
Data from China have boosted the outlook for the global economic recovery, with the country reporting that its March exports in dollar terms grew 30.6% year-over-year, while import growth surged 38.1%, outpacing expectations of a rise nearer 24%.
Plus:The Economic Recovery Depends on Getting Women Back to Work. Here’s Why.
Shares in
declined 3%, after the airline group announced after European markets closed on Tuesday it would launch a €988 million ($1.18 billion) share issue as part of a larger recapitalization project announced last week. The ownership stake of the French state will more than double under the share issue, to near 30%.
Shares in
jumped 2.5% higher, after the food delivery group said in a trading update that orders in the first quarter of 2021 grew 79% from 2020 levels. Growth was particularly strong in the U.K., at 96%, where the company has poured investment into battling rivals Uber Eats and Deliveroo.
stock rose near 2%, as shares in the critical supplier of equipment to the semiconductor industry recovered from a 2.5% dip in the previous session. The group reported on Monday that it had repurchased around €129 million of its own shares under a share buyback program announced in January.
Also:The ‘Coinbase Effect’ Shows the Company’s Importance, and How It Could Diminish
The price of Bitcoin rose to touch a new record on Tuesday, above $62,000, as the market readies for the float of Coinbase. The largest U.S. cryptocurrency exchange is set to begin trading on the Nasdaq on Wednesday.
(MRNA) shares rose 8.9%, as the halting of Johnson & Johnson’s vaccine potentially means greater market share for Moderna.
Shares of
(NVCR) rose 59% after the company gave an update on Phase 3 of its trial for a cancer treatment.
(FDX) shares slipped 0.3% after KeyBanc Capital Markets upgraded the stock to Overweight from Sectorweight.
(JBLU) shares fell 3.5% even after Susquehanna upgraded the stock to Positive from Neutral. Stocks tied to reopenings were suffering Tuesday as a result of the J&J news.
(BMY) shares rose 1.1% after Truist upgraded the stock to Buy from Hold.
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